DR BAULER: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DR BAULER
Largest movements
- Cash +€182,921
up €182,921 (+14.0%), from €1.3m to €1.5m
mainly Net result for the year (+€290,811) and Depreciation (+€74,689)
- Tangible fixed assets -€74,689
down €74,689 (-31.4%), from €237,596 to €162,907
of which Land and buildings: -€37,399
- Reserves +€143,166
up €143,166 (+13.1%), from €1.1m to €1.2m
- Debts after one year -€55,864
down €55,864 (-30.1%), from €185,782 to €129,918
- Tax, wage and social debts -€43,902
no longer reported in 2025 (was €43,902)
- Trade debts +€40,230
new in 2025: €40,230
- Financial income -€50,767
down €50,767 (-84.7%), from €59,962 to €9,195
- Gross operating margin +€18,686
up €18,686 (+3.8%), from €492,818 to €511,504
- Taxes -€10,842
down €10,842 (-7.2%), from €150,453 to €139,611
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,561,509 | €1,660,901 | +€99,392 | +6.4% |
| Fixed assets | 21/28 | €237,596 | €162,907 | -€74,689 | -31.4% |
| Tangible fixed assets | 22/27 | €237,596 | €162,907 | -€74,689 | -31.4% |
| Land and buildings | 22 | €119,673 | €82,274 | -€37,399 | -31.3% |
| Plant, machinery and equipment | 23 | €26,195 | €17,056 | -€9,139 | -34.9% |
| Furniture and vehicles | 24 | €91,728 | €63,577 | -€28,151 | -30.7% |
| Current assets | 29/58 | €1,323,913 | €1,497,994 | +€174,081 | +13.1% |
| Amounts receivable within one year | 40/41 | €12,644 | €6,717 | -€5,927 | -46.9% |
| Trade receivables | 40 | €12,644 | - | -€12,644 | |
| Other amounts receivable | 41 | - | €6,717 | +€6,717 | |
| Cash at bank and in hand | 54/58 | €1,307,659 | €1,490,580 | +€182,921 | +14.0% |
| Deferred charges and accrued income | 490/1 | €3,610 | €697 | -€2,913 | -80.7% |
| Total equity and liabilities | 10/49 | €1,561,509 | €1,660,901 | +€99,392 | +6.4% |
| Equity | 10/15 | €1,104,553 | €1,247,719 | +€143,166 | +13.0% |
| Contributions | 10/11 | €12,518 | €12,518 | = | 0.0% |
| Reserves | 13 | €1,092,035 | €1,235,201 | +€143,166 | +13.1% |
| Distributable reserves | 133 | €1,092,035 | €1,235,201 | +€143,166 | +13.1% |
| Amounts payable | 17/49 | €456,956 | €413,182 | -€43,774 | -9.6% |
| Amounts payable after more than one year | 17 | €185,782 | €129,918 | -€55,864 | -30.1% |
| Financial debts | 170/4 | €185,782 | €129,918 | -€55,864 | -30.1% |
| Amounts payable within one year | 42/48 | €269,344 | €281,370 | +€12,026 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €53,843 | €55,864 | +€2,021 | +3.8% |
| Trade debts | 44 | - | €40,230 | +€40,230 | |
| Suppliers | 440/4 | - | €40,230 | +€40,230 | |
| Taxes, remuneration and social security | 45 | €43,902 | - | -€43,902 | |
| Taxes | 450/3 | €43,902 | - | -€43,902 | |
| Other amounts payable | 47/48 | €171,599 | €185,276 | +€13,677 | +8.0% |
| Accrued charges and deferred income | 492/3 | €1,830 | €1,894 | +€64 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,886 | €74,689 | -€1,197 | -1.6% |
| Gross operating margin | 9900 | €492,818 | €511,504 | +€18,686 | +3.8% |
| Operating profit (loss) | 9901 | €416,932 | €436,815 | +€19,883 | +4.8% |
| Financial income | 75/76B | €59,962 | €9,195 | -€50,767 | -84.7% |
| Recurring financial income | 75 | €59,962 | €9,195 | -€50,767 | -84.7% |
| Financial charges | 65/66B | €11,362 | €15,588 | +€4,226 | +37.2% |
| Recurring financial charges | 65 | €11,362 | €15,588 | +€4,226 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €465,532 | €430,422 | -€35,110 | -7.5% |
| Income taxes | 67/77 | €150,453 | €139,611 | -€10,842 | -7.2% |
| Profit (loss) for the period | 9904 | €315,079 | €290,811 | -€24,268 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €315,079 | €290,811 | -€24,268 | -7.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.